Your drinking habits may end up in an app OpenDNA is building for Woolworths
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AI-driven marketing play OpenDNA is nearing the launch of a drinking preferences app for Woolworths.
The company announced a partnership with Woolworths liquor group Endeavour Drinks last year, to create a ‘Drinks Library’ app that profiles of customer drinking preferences. Endeavour oversees liquor retail brands such as Dan Murphy’s, BWS and Cellarmasters.
“Now undergoing final internal review with Endeavour prior to launch, the App uses OpenDNA’s AIS [artificial intelligence system] technology to build interest profiles on customers’ specific individual drinking preferences.”
The data “can be used for a variety of marketing and customer experience enhancement purposes,” OpenDNA told investors in its December quarterly activities statement.
The app would generate revenue from its further development and ongoing usage-based licensing fees.
Incoming cash for the most recent quarter included $33,000 in customer receipts and $343,000 from government research and development refunds.
The shares were up 15 per cent at 11.5c at 11.30am AEDT Monday.
OpenDNA (ASX:OPN) is developing an artificial intelligence system (AIS) called ‘Synapse’ — described as an “automated psychographic profiling platform designed to enable businesses to better understand their individual users.
“With the recent improvements made to Synapse, we are now even more confident that our AIS provides a compelling proposition capable of unlocking value for organisations operating in a broad range of industry sectors,” chief Jay Shah told the market.
“In that regard, with several potential customer discussions and existing projects underway, we look forward to providing additional news to the market over the coming weeks.”
He said the company was hopeful there would be scope for a substantial additional R&D refund claim to be made in due course.
At the end of the quarter OPN had $1.9 million left in the bank, and expected to spend $711,000 in the current quarter.
Shares in the company have traded between 9c and 20c in the past 52 weeks.